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Wednesday, April 25, 2012

Apple Sells 35.1M iPhones, 11.8M iPads in Q2

Apple on Tuesday announced it sold 35.1 iPhones and 11.8 iPads in its fiscal second quarter. Analysts had expected Apple would sell about 30.5 million iPhones and 12.3 to 13.5 million iPads.

Earnings for the quarter were $12.30 a share on revenues of $39.2 billion. Analysts polled by Thomson Reuters had projected a 2Q profit of $10.02 a share on revenues of $36.7 billion. Apple had issued guidance of $32.5 billion on revenues with profits of $8.50 per share. Apple's stock was up close to 7% in after-hours trading on the news.

"We're thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter," said Tim Cook, Apple's CEO, in a release from the company. "The new iPad is off to a great start, and across the year you're going to see a lot more of the kind of innovation that only Apple can deliver."

Apple also sold 4 million Macs during the quarter, a 7% unit increase over Q2 2011 and about what analysts had expected. Apple sold 7.7 million iPods, down 15% from the year-ago quarter.

The results come after Apple's stellar fiscal first quarter results in January, which included a $13 billion profit on revenues of $46.3 billion.

Shares are down nearly 11% since peaking on April 9, putting the stock in "correction" territory.